Adobe Inc [ADBE] stock prices are up 1.30% to $476.22 at the moment. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The ADBE shares have lost -3.32% over the last week, with a monthly amount drifted -3.30%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Adobe Inc [NASDAQ: ADBE] stock has seen the most recent analyst activity on March 21, 2024, when KeyBanc Capital Markets initiated its Underweight rating and assigned the stock a price target of $445. Previously, Exane BNP Paribas downgraded its rating to Underperform on January 18, 2024, and kept the price target unchanged to $499. On December 18, 2023, upgrade upgraded it’s rating to Overweight. BMO Capital Markets reiterated its Outperform rating and increased its price target to $690 on December 08, 2023. Oppenheimer upgraded its rating to a Outperform but $660 remained the price target by the analyst firm on October 26, 2023. DA Davidson upgraded its rating to Buy for this stock on October 26, 2023, and upped its price target to $640. In a note dated September 29, 2023, HSBC Securities initiated an Hold rating and provided a target price of $519 on this stock.
The stock price of Adobe Inc [ADBE] has been fluctuating between $331.89 and $638.25 over the past year. Currently, Wall Street analysts expect the stock to reach $566 within the next 12 months. Adobe Inc [NASDAQ: ADBE] shares were valued at $476.22 at the most recent close of the market. An investor can expect a potential return of 18.85% based on the average ADBE price forecast.
Analyzing the ADBE fundamentals
The Adobe Inc [NASDAQ:ADBE] reported sales of 19.92B for trailing twelve months, representing a surge of 11.75%. Gross Profit Margin for this corporation currently stands at 0.88% with Operating Profit Margin at 0.34%, Pretax Profit Margin comes in at 0.35%, and Net Profit Margin reading is 0.28%. To continue investigating profitability, this company’s Return on Assets is posted at 0.18, Equity is 0.35 and Total Capital is 0.31. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.25.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 470.15 points at the first support level, and at 464.07 for the second support level. However, for the 1st resistance point, the stock is sitting at 480.64, and for the 2nd resistance point, it is at 485.05.
Ratios To Look Out For
It’s worth pointing out that Adobe Inc [NASDAQ:ADBE]’s Current Ratio is 1.05. Also, the Quick Ratio is 1.05, while the Cash Ratio stands at 0.87. Considering the valuation of this stock, the price to sales ratio is 10.71, the price to book ratio is 13.95 and price to earnings (TTM) ratio is 45.49.
Transactions by insiders
Recent insider trading involved Garfield Mark S., SVP & CAO, that happened on Mar 18 ’24 when 263.0 shares were sold. Chief Strategy Officer & EVP, Belsky Scott completed a deal on Jan 25 ’24 to sell 864.0 shares. Meanwhile, SVP & CAO Garfield Mark S. sold 788.0 shares on Jan 25 ’24.
